TITLE

City of Austin Aims to Fix Pension Problems

AUTHOR(S)
Sorondo, Marc
PUB. DATE
August 2006
SOURCE
Investment Management Weekly;8/14/2006, Vol. 19 Issue 32, p6
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the extra funds added by the city of Austin in Texas in the hope that it can lessen the strain on the underfunded pension system. The budget approved by the City Council includes giving an extra $3.6 million to the $1.5 billion City of Austin Employees' Retirement System. Investment losses between 2000 and 2002, and an increase in retiree benefits, caused the system's underfunding.
ACCESSION #
22789282

 

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